Introduction and Overview

Following the signing of a commencement order on 30 July 2018,
the Criminal Justice (Corruption Offences) Act
2018 (the "Act") is now in force. The Act represents
a comprehensive overhaul of the Irish anti bribery and corruption
("ABaC") regime. A detailed overview of the Act,
including detail on the Act's criminal penalties and
extra-territorial effect, is set out in our previous advisory
available here. In order to ensure your company, board
and senior management mitigate the risk of a breach of the Act, we
have set out below key steps that you should take immediately.

Steps to Protect your Company, Board and Senior Management

It is a defence to proceedings under the Act for a company to
prove that "it took all reasonable steps and exercised all due
diligence to avoid the commission of the offence". In
practice, to ensure this defence is available to your company, you
should take steps including:

put in place (or update your
existing) ABaC policy with reference to the Act;

ensure your compliance officer (or
another suitable member of staff) is assigned ownership of the
company's ABaC policy and framework, with appropriate reporting
to the board;

Walkers Compliance Offering

Walkers Regulatory and Compliance Team have prepared precedent
ABaC policies and training materials to help ensure that your
company will have a compliance framework in place that meets the
requirements of the Act. I

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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Following a relatively settled period, the Irish AML/CFT regime will shortly undergo significant reform in the shape of new domestic legislation with a heavy emphasis on risk, revised industry guidance and...

On 5 September 2018, the Court of Appeal handed down its judgment in the appeal from the decision of the High Court in The Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Ltd [2017] EWHC 1017 (QB).

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